MAKER - MKR/USD - 1H - Technical analysis published on 11/21/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
50%
17%
33%
My opinion
Bullish above 1,390.43 USD
My targets
1,459.36 USD (+2.01%)
1,534.80 USD (+7.29%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on MAKER - MKR/USD as long as the price remains well above 1,390.43 USD. The buyers' bullish objective is set at 1,459.36 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1,534.80 USD. If there is any crossing, the next objective would be the resistance located at 2,220.80 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.1
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The MAKER - MKR/USD price is 1,430.55 USD. The price has increased by +1.72% since the last closing and was between 1,377.00 USD and 1,460.76 USD. This implies that the price is at +3.89% from its lowest and at -2.07% from its highest.1,377.00
1,460.76
1,430.55
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by MAKER - MKR/USD:
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this MAKER - MKR/USD chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, only 9 technical indicators out of 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1,359.92 | 1,390.43 | 1,422.65 | 1,430.55 | 1,438.50 | 1,459.36 | 1,534.80 |
| Change (%) | -4.94% | -2.80% | -0.55% | - | +0.56% | +2.01% | +7.29% |
| Change | -70.63 | -40.12 | -7.90 | - | +7.95 | +28.81 | +104.25 |
| Level | Intermediate | Intermediate | Minor | - | Minor | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,313.34 | 1,336.93 | 1,371.62 | 1,395.21 | 1,429.90 | 1,453.49 | 1,488.18 |
| Camarilla | 1,390.28 | 1,395.63 | 1,400.97 | 1,406.31 | 1,411.65 | 1,417.00 | 1,422.34 |
| Woodie | 1,318.89 | 1,339.71 | 1,377.17 | 1,397.99 | 1,435.45 | 1,456.27 | 1,493.73 |
| Fibonacci | 1,336.93 | 1,359.19 | 1,372.95 | 1,395.21 | 1,417.47 | 1,431.23 | 1,453.49 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,047.72 | 1,148.86 | 1,257.08 | 1,358.22 | 1,466.44 | 1,567.58 | 1,675.80 |
| Camarilla | 1,307.73 | 1,326.92 | 1,346.11 | 1,365.30 | 1,384.49 | 1,403.68 | 1,422.87 |
| Woodie | 1,051.26 | 1,150.63 | 1,260.62 | 1,359.99 | 1,469.98 | 1,569.35 | 1,679.34 |
| Fibonacci | 1,148.86 | 1,228.84 | 1,278.24 | 1,358.22 | 1,438.20 | 1,487.60 | 1,567.58 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 929.85 | 1,128.32 | 1,247.55 | 1,446.02 | 1,565.25 | 1,763.72 | 1,882.95 |
| Camarilla | 1,279.40 | 1,308.53 | 1,337.65 | 1,366.77 | 1,395.89 | 1,425.02 | 1,454.14 |
| Woodie | 890.22 | 1,108.51 | 1,207.92 | 1,426.21 | 1,525.62 | 1,743.91 | 1,843.32 |
| Fibonacci | 1,128.32 | 1,249.69 | 1,324.66 | 1,446.02 | 1,567.39 | 1,642.36 | 1,763.72 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 55.12 | |
| MACD (12,26,9): | 9.1400 | |
| Directional Movement: | -9.85 | |
| AROON (14): | 14.29 | |
| DEMA (21): | 1,436.76 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,383.50 | |
| Elder Ray (13): | 5.59 | |
| Super Trend (3,10): | 1,393.68 | |
| Zig ZAG (10): | 1,429.91 | |
| VORTEX (21): | 1.0600 | |
| Stochastique (14,3,5): | 65.68 | |
| TEMA (21): | 1,437.54 | |
| Williams %R (14): | -36.13 | |
| Chande Momentum Oscillator (20): | 12.11 | |
| Repulse (5,40,3): | 0.4400 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.1100 | |
| Courbe Coppock: | 3.85 |
| MA7: | 1,386.50 | |
| MA20: | 1,350.39 | |
| MA50: | 1,391.90 | |
| MA100: | 1,295.44 | |
| MAexp7: | 1,431.47 | |
| MAexp20: | 1,424.15 | |
| MAexp50: | 1,406.98 | |
| MAexp100: | 1,390.74 | |
| Price / MA7: | +3.18% | |
| Price / MA20: | +5.94% | |
| Price / MA50: | +2.78% | |
| Price / MA100: | +10.43% | |
| Price / MAexp7: | -0.06% | |
| Price / MAexp20: | +0.45% | |
| Price / MAexp50: | +1.68% | |
| Price / MAexp100: | +2.86% |
Quotes :
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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